Fighting fraud in the car leasing industry with tracking devices and data loggers
Learn why car leasing dealers love our tracking solution. Fight theft, reckless driving and milage fraud with a simple IoT data logger and intelligent software.
Stop us if you have heard this one before
There are many natural challenges for car dealerships when it comes to leasing and rental.
- The threat of theft.
- Misuse and reckless driving which is difficult to prove.
- Mileage fraud and tampering with actual driven distance.
Expensive cars are precious and worth the extra protection, but tools to fight this trio of concerns have not always been effective.
Wired dashboard GPS solutions are easily found and removed, while misuse and mileage fraud are virtually impossible to prove.
Why car leasing dealers love our tracking solution
This unfortunately all too normal scenario played out on a regular Friday night in Copenhagen.
A car was not turned in at the right time, alerting staff to the possibility of theft. Luckily this car – in the heavy-weight class – was protected with a Trusted tracking solution.
Upon suspicion of foul play, the tracker was put in theft-mode. It soon reported back that the car was racing across the country.
Updates every five minutes revealed a blistering pace, indicating an attempt to move the car out of the country quickly.
However, with the updates from the tracker and cooperation with the police, our customer was able to thwart the plan of the thieves, and just hours later they could recover the expensive car.
Just better than simple traditional wired GPS solution
The Trusted tracking hardware features long-life batteries meaning it can be hidden anywhere in your cars.
This is a game changer as thieves know where to look for the traditional wired solutions. But a well-hidden battery-powered device is virtually undetectable.
The tracking device also contains intelligent sensors and an accompanying software subscription that can give you data on shock and handling. This can reveal reckless driving, hard brakings, bumps or jumps.
Mileage fraud: A new bad boy in class
Another member of this trio of bad company of inherent car dealership problems is mileage fraud.
This occurs when a vehicle’s odometer has been tampered with to lower the distance a car has been driven. It is an issue which becomes more and more widespread with the growing availability of cheap and easy-to-use tampering tools online.
A study from the international motoring organization FIA estimates that up to 40% of used cars have been tampered with. For car leasing dealers, this makes it impossible to detect the actual distance driven.
However, Trusted’s intelligent software solution can calculate trip data and actual distance covered based on the intelligent sensors in the devices.
And this data is impossible to tamper with, as it is sent to our servers from the IoT devices at user-set intervals for your access only.
Benefits of tracking and data logging for car dealers
- Effective and discrete theft prevention.
- Exact GPS position, including data logging features.
- Small-frame tracker easily hidden anywhere.
- Intelligent sensors detect shock and excessive vibration.
- Prevent mileage fraud by tracking actual distance covered.
- Ensure correct invoicing.
Looking for a tracking solution?
The benefits for car dealers are many with Trusted. Contact us to hear how the advanced sensors of our tracking devices and data loggers can solve your business cases.
Please give me a call today or book a meeting.